Overseas Shipholding reports $5.6 million operating income for August

By Jim Witters

Wilmington, Del., Oct. 15 - Overseas Shipholding Group, Inc. posted operating income of $5.6 million for August on shipping revenue of $77.75 million, according to the company's monthly operating report filed Oct. 15 with the U.S. Bankruptcy Court for the District of Delaware.

Those figures compare to operating income of $6.5 million in July on shipping revenue of $77.91 million.

The company also reported net income of $1.08 million for August, down from $1.35 million in July.

Overseas Shipholding's cash and cash equivalents totaled $478 million as of Aug. 31, down from the $594.41 million at the end of July.

Overseas Shipholding, a New York-based tanker company, filed for bankruptcy on Nov. 14, 2012 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 12-20000.

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